The shareholders of Indonesia’s Bank Muamalat are seeking to sell its 51% stake for about $300 million, Reuters reports. Islamic Development Bank, Boubyan Bank Kuwait and Atwill Holdings hold about 75.7% of the unlisted Islamic lender.
Bank Permata, a unit of Standard Chartered, Qatar Islamic Bank and OCBC, were among the bidders interested in the stake. Morgan Stanley has been appointed to advice the shareholders on the sale.
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